Component maker Xin Point hits 13-mth low; says products subject to U.S. tariffs
28/09/2018 08:11
** Shares of Xin Point Holdings Ltd 1571.HK fall 1.95 pct
to HK$3.02, their lowest since Aug 2017, after the automotive
and electronic components maker said its products are subject to
latest U.S. tariffs on Chinese imports
** Co says its products exported to the U.S. are included in
the list in the latest $200 billion worth of Chinese imports
subjects to additional 10 pct tariffs urn:newsml:reuters.com:*:nFWN1WD0P0
** Adds logistic firms, customs brokers in the U.S. are
exploring new sets of Harmonized Tariff Schedule Codes in a bid
to reduce influence of the additional tariffs on its products
** As of last close, the stock had fallen 38.4 percent so
far this year
** Xin Point has underperformed the Hang Seng Commerce &
Industry Index sector .HSNC by 12.3 percentage points in the
past one month
(Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)